Sproutly Issues Shares in Lieu of Semi-Annual Interest Payment


NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES VANCOUVER, British Columbia–(BUSINESS WIRE)–Sproutly Canada, Inc. (CSE: SPR) (OTCQB: SRUTF) (FSE: 38G) (“Sproutly” or the “Company“) announces that, pursuant to a convertible debenture indenture dated October 24, 2018 between the Company and TSX Trust Company, as trustee, which has been amended pursuant to a first supplemental indenture dated April 24, 2020, a second supplemental indenture dated July 23, 2020, a third supplemental indenture dated September 23, 2020 and a fourth supplemental indenture dated April 22, 2021 (collectively, the “Indenture“), the Company intends to settle accrued and unpaid interest (“Interest“) under the Indenture in the amount of $70,000 through the issuance of 1,400,000 common shares in the capital of the Company (the “Settlement Shares“) at a price of $0.05 per Settlement Share. The Interest represents a semi-annual interest payment under the Indenture and the Interest will be fully settled upon the issuance of the Settlement Shares. The holders of the convertible debentures voluntarily elected to satisfy the Interest with common shares of the Company which will allow the Company to preserve its cash for future operations. For additional details regarding the Indenture, please refer to the Company’s news releases dated October 24, 2018, December 21, 2018, April 24, 2020, July 30, 2020, September 23, 2020, January 5, 2021, April 22, 2021, June 3, 2021 and June 30, 2021 along with the Company’s final short form prospectus dated December 19, 2018, each of which are available on the Company’s SEDAR profile at http://www.sedar.com. About Sproutly Canada, Inc. Sproutly’s core objective is to become the leading supplier of unique ingredients and customized formulations to the cannabis beverage and edibles market. Our water-soluble Infuz2O and BioNatural Oils will deliver revolutionary brands to international markets that are striving to produce differentiated consumer products. Sproutly’s…

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Source : Sproutly Issues Shares in Lieu of Semi-Annual Interest Payment

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